Today, US Attorney General Jeff Sessions reversed an Obama era policy that restricted federal interference against state-approved growers, dispensaries, patients and users of medical or recreational pot. Mr Sessions has never been shy about his view on cannabis users, stating in a public speech that he prefers members of the KKK.
“Return to the rule of law,” will have uncertain consequences to our industry if the Justice Department decides to act on this open warrant that Mr Sessions just signed. (read memo here>>)
More than 60% of Americans support legal pot and as many as 90% of Americans agree with forms of medical marijuana.
The decision comes just days after California and Vermont legalized marijuana for adult use. In the absence of federal regulation, fear is a suitable substitution. Was this memo just an attempt to spread fear? The market took the news seriously.
The legal cannabis market as we know sprouted from the great recession of the late 2000’s and its cheap real estate. And, of course, a lack of jobs and state revenues back then. Now our economy is good. Policing budgets are growing. And the legal marijuana market is prime for police taking. Be well, Cannabis Crusaders.
And to Mr Sessions, ‘Practice compassion.’